Tax Deferrals

Tax Deferrals

Under Florida law, anyone entitled to claim a homestead exemption may be eligible to defer payments of property taxes and non-ad valorem assessments. The tax deferral plan is designed for those with low incomes relative to their total tax bill. Deferring payment of your taxes, however, will add a lien to your property. Deferred taxes accrue interest each month until the taxes are paid.

Under 65
If you qualify for the plan and you are under 65, you may defer the portion of your tax bill that exceeds 5% of your household income from the previous year. If your household income is less than $10,000, you may defer the entire amount of your tax bill.

Example: If your adjusted gross income is $15,000 and your tax bill is $1,000, then you may defer that part of your tax bill over 5% of your income. You will pay $750 of your taxes and you may defer $250.

Over 65
If you qualify for the plan and you are over 65, you may defer the portion of your tax bill that exceeds 3% of your household income from the previous year. If your household income is less than $10,000 or is less than the amount of income designated for the additional homestead exemption, you may defer the entire amount of your tax bill.

Example: If your adjusted gross income is $15,000 and your tax bill is $1,000, you may defer that part of your tax bill over 3% of your income. You pay $450 of your taxes and you may defer $550.

How to qualify
To qualify for a tax deferral, you must:

  • Be qualified to claim a homestead exemption
  • Submit proof of fire and extended coverage home insurance that is in excess of liens and deferred taxes
  • Provide proof of income from the previous year
  • Provide proof that the insurance policy has a payable clause to the Tax Collector and a clause obligating the carrier to notify the Tax Collector of cancellation or non-renewal
  • Have a home mortgage that does not exceed 70% of the assessed value of the home
  • Have no liens or deferred taxes totaling more than 85% of the assessed value of the home

How to apply
An application to determine eligibility is available only at the Tax Collector’s courthouse office, 315 Court Street, 3rd Floor, Clearwater, FL 33756.

The deadline for filing an application for the 2016 tax year is March 31, 2017. 

For questions, please call 727-464-7777. Remember that deferring your taxes will add a lien to your property and interest will accrue each month until the taxes are paid.

Locations

Pinellas County Tax Collector
All locations open M-F 8 a.m. - 5 p.m.

 

 
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